MSNBC.com is reporting that remainingBORDERS stores will close by September. Some of their locations will shut their doors as early as the end of this week. This means there will be 399 less places to purchase your favorite paperback or hard cover book throughout the U.S. Approximately 10,700 employess are expected to lose their jobs.

A corporate spokesperson cited the turbulent economy, and the current electronic book revolution as the reasons for the company to fold. Owners of KOBOeReaders will still continue to purchase product on their website (including my paperback).

Malls currently housing BORDERS bookstores are expected to take a hit in foot traffic, which could tangentially further negatively effect our economy. Savvy business experts saw this news coming back in February. The courts will act on the liquidation process on Thursday.